More Gig Economy Workers Can Now Get Paid on Demand

Bloomberg Tech: “The gig economy is built on people offering their services on demand. Now more of them will have the option of getting paid just as quickly.”

“Care.com Inc., Instacart Inc., Postmates Inc. and several other marketplace providers will soon start giving workers the chance to cash out their earnings immediately, instead of waiting for the usual weekly deposit. That’s because Stripe Inc., the payment processing service that underpins many of the on-demand companies, will introduce the feature to all customers for a fee.”

“Quick cash is a big draw for workers. Stripe originally built a version of instant payouts at the request of Lyft Inc., the largest U.S. ride-hailing app behind Uber. Lyft began offering same-day pay to its drivers in December. Since then, Stripe has processed $500 million in instant payments for Lyft, and half of all driver payouts now go through that feature, the companies said.”